Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The Central Bank of Iraq (CBI) has reported a significant increase in its gold reserves, which form a key component of the country's foreign reserves. During the second quarter of 2025, gold reserves reached 22.8 trillion dinars [$17.4 billion], marking a 55 percent rise compared to 14.7 trillion dinars recorded in the […]
By John Lee. The Central Bank of Iraq (CBI) has reported a decline in issued currency, contributing to lower inflation rates and supporting price stability. In the second quarter of 2025, issued currency amounted to 98.4 trillion dinars [$75.1 billion], reflecting a 3.8 percent decrease compared to 102.3 trillion dinars in the same period of […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani chaired a meeting on Sunday to follow up on the implementation of the government's "Riyada" initiative and the disbursement of youth loans for qualified applicants. Al-Sudani highlighted the initiative's positive reception among young people, describing it as a foundation for a new labour market reality, encouraging private […]
By John Lee. Iraq's Rafidain Bank has signed a professional partnership agreement with U.S.-based consultancy K2 Integrity (K2i), during a ceremony hosted by the Embassy of the Republic of Iraq in Washington. The agreement is grounded in Iraqi Cabinet Resolution No. (23274) of 2023. K2 Integrity will deliver a wide range of services, including anti-money laundering […]
By John Lee. Central Bank of Iraq (CBI), in cooperation with the International Labour Organization (ILO), the Iraqi Company for Bank Guarantees (ICBG), and several Iraqi banks, has provided significant financial and training support to displaced persons and host communities in Nineveh and Duhok governorates under the Afaaq programme. The initiative has since been replicated […]
By John Lee. The United Nations (UN) in Iraq has published its Annual Results Report 2024. The United Nations Country Team (UNCT) in Iraq, composed of 23 UN agencies, funds and specialized programmes, is dedicated to supporting Iraq's journey towards achieving the Sustainable Development Goals (SDGs). Guided by the principle of leaving no one behind, […]
By John Lee. Central Bank of Iraq (CBI) Governor Ali Mohsen Al-Alaq has met Bilal Al-Saghir, the International Finance Corporation's (IFC) Resident Representative in Iraq, to discuss strengthening bilateral relations, particularly in training Iraq's banking sector workforce. The parties intend to sign a Memorandum of Understanding on the matter in the coming period. They also […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has chaired the periodic meeting of the Supreme Council of Youth, coinciding with World Youth Day and the second anniversary of the Council's establishment. The meeting was attended by several ministers and senior advisers. The Council approved reallocating IQD 75 billion [$57 million] recovered from Agricultural Initiative […]
By John Lee. Central Bank of Iraq (CBI) Governor Ali Mohsen Al-Alaq and the CBI's specialist team have met with consultancy firm Oliver Wyman to review the Iraqi Private Banks League's comments on the national banking reform plan. The Governor confirmed that the CBI had completed an in-depth discussion, during which participants showed understanding of […]
By John Lee. Karmal Brokerage has secured approval from the Iraq Stock Exchange (ISX) to launch a comprehensive digital transformation project in preparation for operations on the "Tabadul" electronic trading platform. According to a press release, the initiative, the first of its kind in Iraq's financial market, supports the government's vision to enhance transparency and […]
By John Lee. The Central Bank of Iraq (CBI) has launched the second edition of its Security Permits Platform, aimed at enhancing the management and organisation of security clearances for authorised bank personnel and their vehicles during cash withdrawal and deposit operations. The CBI's Security Permits Office held an interactive workshop outlining the platform's features, account […]
By John Lee. Central Bank of Iraq (CBI) Governor, Ali Mohsen Al-Alaq, has outlined the Bank's progress in developing a secure and integrated electronic payment system, in line with international standards and best practices. Speaking at the Comprehensive Transformation to Electronic Payment Conference in Baghdad, he said the systems have improved the efficiency and reliability […]
